ISATER.com

Latest world business news Press Digest. BETA

   Feb.26 (Bloomberg) -- Japanese stocks advanced, led by commodities-related companies including Inpex Holdings Inc.

and Mitsubishi Corp., after prices for raw materials including oil, gold and silver rose. economic growth this year.The Organization for Economic would weather a slowdown in U.S.

housing, while an International economy have receded. benign than people used to think, said Masafumi Oshiden, a fund manager in Tokyo at BlackRock Japan Co., whose parent company has $1.1 trillion in assets.``As a result commodities markets are coming back, including crude oil, and boosting related shares.

The Nikkei 225 Stock Average advanced 88.29, or 0.5 percent, to 18,276.71 as of 10:40 a.m.in Tokyo.The broader Topix index rose 5.75, or 0.3 percent, to 1820.21.

the Topix were commodities related, with a measure of mining shares advancing 3.4 percent. Nippon Steel Corp.led gains by makers of the alloy on speculation global reorganization will continue in the industry.

Nikko Cordial Corp.soared on speculation Citigroup Inc.will increase its stake in an investment-banking joint venture.

Mitsubishi Corp., which generates the second-biggest proportion of its sales from crude and industrial fuel, climbed 45 yen, or 1.6 percent, to 2,790.Inpex, Japan s biggest oil explorer, advanced 33,000 yen, or 3.1 percent, to 1.03 million.producer, surged 105 yen, or 5.1 percent to 2,170.

barrel in New York on Feb.23, the highest close since Dec.22.

Meanwhile, gold futures rose to as high as $691.90 an ounce, the highest since May 18, while silver climbed to as much as $14.66 an ounce, the best since May 12. The global economy will weather a decline in house prices, including the U.S.and Spain, the Organization for Economic Cooperation and Development said last November.

markets, John Lipsky, new first deputy managing director of the International Monetary Fund, told the Financial Times in January. reported on Feb.24 companies are signing agreements to build biofuel plants in Indonesia.

Itochu Corp.jumped 54 yen, or 4.7 percent, to 1,205.The producer PT Molindo Raya, the Nikkei reported.

Sojitz Corp.gained 11 yen, or 2 percent, to 549.The company will make a Borneo, Nikkei said.

Nippon Steel, the world s second-biggest maker of the alloy, climbed 22 yen, or 2.7 percent, to 843.JFE Holdings Inc, Japan s second-largest steelmaker, advanced 150 yen, or 2 percent, to 7,820.Sumitomo Metal Industries Ltd., the nation s third biggest, rose 15 yen, or 2.4 percent, to 640.

speculation a takeover by Mittal Steel Co., the world s largest maker of the alloy, of Arcelor SA would accelerate reorganization in the industry globally. ``Japanese stocks should continue on a bullish track, said Norihiro Fujito, strategist at Mitsubishi UFJ Securities Co.in Tokyo.

``Steelmakers and other groups that could be involved in mergers and acquisitions are going to be picked up this week. yen, or 14 percent, to 1,386.That was the largest percentage gain among 1,895 stocks worldwide in the Morgan Stanley Capital International World Index.

Citigroup, the biggest U.S.bank, may increase its stake in Nikko Citigroup Ltd.to 33.4 percent from 4.9 percent to shore up the Japanese brokerage following an accounting scandal, three people with knowledge of the discussions said.

Nintendo Co.declined 400 yen, or 1.2 percent, to 33,400.Nintendo, the world s largest maker of portable video game players, the company said in a statement.

Nikkei futures expiring in March added 0.4 percent to 18,290 in Osaka and rose 0.3 percent to 18,295 in Singapore. Last Updated: February 25, 2007 20:41 EST .

Main keywords: Stanley Capital International, International Monetary Fund, Sumitomo Metal Industries, Mitsubishi Corp, Mitsubishi UFJ Securities, Nippon Steel, Morgan Stanley Capital, Holdings Inc, International Monetary, Last Updated February, Capital International, Metal Industries Ltd, Economic Cooperation, Nikko Citigroup Ltd, Nikko Cordial Corp, Inpex Holdings Inc, Bloomberg Japanese, BlackRock Japan Co, Nippon Steel Corp, UFJ Securities Co, Metal Industries, Masafumi Oshiden, JFE Holdings Inc, Updated February, Financial Times, BlackRock Japan, Stanley Capital, Norihiro Fujito, PT Molindo Raya, Mittal Steel Co, Nikko Citigroup, Industries Ltd, I Last Updated, Morgan Stanley, Mitsubishi UFJ, UFJ Securities, Inpex Holdings, Sumitomo Metal, Monetary Fund, Last November, Citigroup Ltd, Securities Co, Citigroup Inc, Nikko Cordial, Stock Average, JFE Holdings, Molindo Raya, Cordial Corp, Last Updated, Mittal Steel, Nintendo Co, Topix Index, John Lipsky, Itochu Corp, Sojitz Corp, Steel Corp, PT Molindo, Arcelor SA, Japan Co, Steel Co, I Last, EST I

Read article at www.bloomberg.com